SunTrust Stock Rating Reaffirmed by Zacks (STI)
SunTrust (NYSE:STI)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Monday, AR Network reports. They currently have a $39.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 4.78% from the stock’s previous close.
Zacks‘ analyst wrote, “SunTrust’s fourth-quarter 2013 earnings were well ahead of the Zacks Consensus Estimate. Results benefited from decline in both provision for credit losses and operating expenses. These were partially offset by a decrease in revenue. Further, credit quality improved in the quarter while capital ratios were a mixed bag. We believe that strong credit quality and a favorable deposit mix will continue to remain driving forces at SunTrust. Moreover, the company’s cost-cutting initiatives are commendable amid the sluggish economic recovery and overall industry challenges. Nevertheless, we remain concerned about the company’s exposure to risky assets and continued regulatory pressures.”
STI has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of SunTrust from $42.00 to $44.00 in a research note on Tuesday, January 21st. They now have an “outperform” rating on the stock. Separately, analysts at Compass Point raised their price target on shares of SunTrust from $39.00 to $45.00 in a research note on Tuesday, January 21st. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of SunTrust from $39.00 to $41.00 in a research note on Tuesday, January 21st. Thirteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.43.
SunTrust (NYSE:STI) traded up 1.71% during mid-day trading on Monday, hitting $37.855. The stock had a trading volume of 1,453,890 shares. SunTrust has a 52-week low of $26.93 and a 52-week high of $40.21. The stock’s 50-day moving average is $37.78 and its 200-day moving average is $35.21. The company has a market cap of $20.157 billion and a P/E ratio of 15.44.
SunTrust (NYSE:STI) last announced its earnings results on Friday, January 17th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.08. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.65 earnings per share. SunTrust’s revenue was down 10.0% compared to the same quarter last year. On average, analysts predict that SunTrust will post $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, February 26th.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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